Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM’s Manufacturing Purchasing Managers Index (PMI) slipped down to an index level of 56.2 in June, down from 59.7 in May and a cyclical high of 60.4 in June. Still, this is well above the diffusion index growth threshold of 50.0 for the manufacturing sector. Also, according to the release, “?given the robust nature of recent growth, it is not surprising that we would see a slower rate of growth at this time.” That said, every component that comprises the PMI except for inventories (which were roughly flat) decreased significantly in June, led by a whopping 7.2 index point decline in new orders to 58.5.